USD/TRY pares post-Fed losses to around 19.00 with eyes on CBRT – by anilpanchal7 USDTRY CBRT Fed YieldCurve RiskAversion
ntral Bank of the Republic of Türkiye . In doing so, the Turkish Lira pair struggles to justify the latest fall of the US Dollar, as well as the Treasury bond yields, amid dovish hopes from the Turkish central bank.
On the other hand, Fed confirmed the market’s expectations of announcing a 0.25% rate hike but failed to convince the policy hawks and drowned the yields, as well as the US Dollar. The reason could be linked to the statements saying, “Some additional policy firming may be appropriate,” instead of previous remarks like “Ongoing increases in the target range will be appropriate.”Jerome Powell
Amid these plays, US 10-year and two-year Treasury bond yields stay pressured around 3.46% and 3.89% at the latest, licking their wounds after falling the most in a week whereasHowever, Citibank CEO Jane Fraser’s efforts to placate market fears seem to have allowed bears to take a breather as she said, “This is not a credit crisis. This is a situation where it's a few banks," per Bloomberg.
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